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MARKETING PROCESS
- 1. MARKETING PROCESS HEUTAGOGICAL MODULE #2 Prepared by: Castillo, Glazy Danas, Hazel ann Jimenez, Jovelyn Marbella, Mary Joy
- 2. What is marketing? What are the 4 P’s? How does marketing affect your business? 5 Crucial Steps in the Strategic Marketing Process TOPIC OVERVIEW MARKETING PROCESS
- 3. WHAT IS MARKETING? Marketing is the process of luring potential customers and clients to your goods and services. It is one of the key aspects of business. Marketing implies gathering information, promoting, selling, and supplying your commodities. It is where the actions of the company or organization takes place to promote themselves and increase the sales of their product or service.
- 4. According to E. J. McCarthy, the 4 Ps of Marketing are the simple formula for classifying and operating with the important elements of your target market. WHAT ARE THE 4 P'S?
- 5. 1. PRODUCT HAVING A PRODUCT IS EXTREMELY IMPORTANT AND IS THE FOUNDATION OF ALL MARKETING. A PRODUCT CAN BE ANYTHING THAT A COMPANY PROVIDES TO CONSUMERS IN ORDER TO SATISFY PEOPLE'S NEEDS. THE WISEST CHOICE TO DO IS FOCUS YOUR SERVICES OR PRODUCTS ON THE NEEDS AND WANTS OF BUYERS, AND ALSO HOW THE PRODUCT WOULD BENEFIT THE CONSUMER INSTEAD OF THE OBJECT'S PHYSICAL CHARACTERISTICS OR ATTRIBUTES. 2. PLACE TACTICAL MARKETING SITES CAN RANGE FROM AN ONLINE MARKETPLACE TO A CHANNEL OF PHYSICAL STORES THAT IS SPREAD ACROSS SEVERAL TOWNS OR COUNTRIES. THE DISTRIBUTION STRATEGY'S MAIN OBJECTIVE IS TO PROVIDE POSSIBLE CUSTOMERS WITH AN EASY ACCESS TO YOUR GOODS WHILE ALSO GENERATING A GOOD EXPERIENCE ALL THROUGH THE BUYING PROCESS.
- 6. 3. PRICE THE PRICE IS THE ACTUAL VALUE THAT A SHOPPER FOREGOES IN EXCHANGE FOR THE BENEFITS OF OWNING AND USING A PRODUCT AND SERVICES. CLIENTS THEREBY EXCHANGE A CERTAIN WORTH FOR OWNING OR USING THE PRODUCT. A VALUE WIDELY RECOGNIZED AS THE PRICE. 2. PROMOTION THIS REFERS TO ALL ADVERTISING AND MARKETING ACTIVITIES WE UNDERTAKE IN ORDER TO DISSEMINATE THE ADVANTAGES AND ATTRIBUTES OF OUR ITEM OR BRAND WITHIN THE INDUSTRY. AND THAT IS HOW ENTREPRENEURS BOOST THE SALES.
- 7. Item 1 Item 2 Item 3 Item 4 Item 5 40 30 20 10 0 HOW DOES MARKETING AFFECT YOUR BUSINESS?
- 8. This is essential since it familiarizes individuals to your company’s products or services in which you are offering. It also tends to make you memorable to shoppers, who will starting to believe in your brand, who'll get to be your regular customer, and spread the word about you. 1. RAISING BRAND AWARENESS
- 9. Expanding the number of visitors in your website includes acquiring more loyal customers and as a result, it boosts the sales of your product. This process can be aided as an effective advertising strategy. 2. GENERATING TRAFFICT
- 10. Every company that wanted to increase their profits and sales promotion can help them by implementing a range of tactics such as optimizing your website, generating online ads, running A/B tests to decide the proper method for your business, and often more. 3. INCREASING REVENUE
- 11. Building trust in your product leads to customer satisfaction and higher sales. This not only creates demand but also leads to positive feedback both web and through publicity which is perhaps one of the most beneficial forms of marketing. 4. BUILDING TRUST IN YOUR BRAND
- 12. Metrics are extremely useful when planning and developing marketing strategy. This not just influence the strategic plan and assist in tracking its advancement, but it also show what can be modified or changed to continuously optimize your promotional activities. 5. TRACKING YOUR METRICS
- 13. Mission Situation Analysis Marketing Strategy/Planning Marketing Mix Implementation and Control The strategic marketing process is a planned with the sequence of processes that will assist you in identifying and achieving your objectives. Furthermore, you will learn what your clients want and produce products to meet those needs. The stages to an effective marketing planning process are as follows. 1. 2. 3. 4. 5. 5 CRUTIAL STEPS IN THE STRATEGIC MARKETING PROCESS
- 14. MISSION A mission statement describes why such service operates and how it might help the customers. EXAMPLE: "Apple strives to bring the best personal computing experience to students, educators, creative professionals, and consumers around the world through its innovative hardware, software, and internet offerings."
- 15. SITUATION ANALYSIS Situation analysis provides a clear, objective perspective of your company's performance, current and potential future clients, market trends, and capital structure.
- 16. MARKETING PLAN A marketing plan will clearly state your potential clients and how you might reach them, and of course be forecasted on the reported performance.
- 17. MARKETING MIX It's time to reflect on the "how" of preparing a plan at this stage of the strategic marketing process. You're defining your item's market edge. You must be clear what you'd like to sell: is it convenience or quality? And you must understand who is most likely to make a purchase.
- 18. IMPLEMENTATION AND CONTROL You will communicate with clients at this stage of the decision marketing strategy in order to inform and persuade them about your goods or services.
- 19. “Stopping advertising to save money is like stopping your watch to save time”. -Henry Ford
- 21. SUBMITTED TO: PROF. Aaron Jed Tumbali THANK YOU! S2-TLE09 FOUNDATIONS OF ENTREPRENEURSHIP 2BTLE HE-A